Growth opportunities in the drone service market look promising over the next six years. This is mainly due to the rise in the inclination of UAVs in the agriculture sector, increasing technological developments in autonomous unmanned aerial services, and reducing labor costs for the companies.
Drone Service Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The continues augmentation in technological innovations in autonomous aerial services has emerged the last-mile delivery of the products. The application of drones for delivery and other services can extensively decrease the labor cost for the company. This mode of service has the ability to rattle the delivery industry. E-commerce and delivery companies like Amazon have already charged the patents to expand multi-level fulfillment centers for these vehicles. Moreover, the growing preference for UAVs in the agricultural sector is also driving the market growth. For example, the application of drones for crop monitoring, analysis, and crop health assessment will boost market growth. Also, the favorable strategies by corporations like the collaboration of the World Food Programme and the Belgian government in 2017 to use these drones for agricultural processes will stimulate market growth. Additionally, their propelling demand for aerial photography along with 3D scanning in building modeling will strengthen the market size. Aerial videography and photography are exerted in architectural research and property advertising, and others which have raised the market growth. However, the growing concerns associated with security will curb the market growth.
End-Use Industry Segment Drivers
Based on the end-use industry, agriculture is expected to witness a higher CAGR over the forecast period. This is attributed to their increasing demand of these services in economies like U.S., China and India which are largest producers of grains, pulses, and rice and require drones for spraying, monitoring and other purpose which results in market growth.
Regional Drivers
Based on the regional coverage, North America is projected to lead the market over the forecast period. According to the budget provided by the president of the U.S. in 2018, their military is disbursing US$6.97 billion for drone-related research and development, procurement, and system-specific construction, which will fuel the market growth. In addition, the prevalence of leading players in the market like MEASURE, Zipline, and Flirtey have further propelled the market growth.
Drone Service Market’s leading Manufacturers:
- Zipline
- Terra Drone Corp.
- MEASURE
- Hemav Technology S.L
- Aerodyne Group
- Verity
- Skylark Drones
- Matternet
- Flirtey
- Aerodyne Group
Drone Service Market Segmentation:
Segmentation by Type
- Fixed-Wing
- Rotary Wing
Segmentation by Application
- Aerial Photography
- Delivery & Pick-Up
- Surveillance and Inspection
- Data Acquisition and Analytics
- Remote Sensing and Environment Monitoring
- Others
Segmentation by End-Use Industry:
- Agriculture
- Homeland Security
- Oil & Gas
- Logistics Infrastructure
- Media and Entertainment
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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